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Speculation Loss


Last updated: 03 November 2008

Court :
Gauhati High Court

Brief :
Whether loss on sale of share whose physical delivery not taken by the assessee is speculation loss?

Citation :
Bhikamchand Betala and Sons Vs. I.T.O. 21/08/2007 [2007] 294 ITR 10

Held by the Honourable Court that, under the settlement of the contract damages are paid and no physical delivery, only price difference between sale and purchase is considered. Therefore loss on sale of share is a speculative loss.
 

CCI Pro

Devendra
Published in Income Tax
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